Handbook of Decision Analysis, 2nd Edition

1Introduction to Decision Analysis and Analytics

Nothing is more difficult, and therefore more precious, than to be able to decide.

—Napoleon, Maxims, 1804

In God we trust. All others must bring data.

—W. Edwards Deming, statistician, professor, author, lecturer, and consultant

CHAPTER MENU

• 1.1 Introduction
• 1.2 Decision Analysis is a Social‐Technical Process
• 1.3 Decision Analysis Applications
  • 1.3.1 Oil and Gas Decision Analysis Success Story – Chevron
  • 1.3.2 Pharmaceutical Decision Analysis Success Story – SmithKline Beecham
  • 1.3.3 Military and Intelligence Decision Analysis Success Stories
• 1.4 Decision Analysis Practitioners and Professionals
  • 1.4.1 Education and Training
  • 1.4.2 Decision Analysis Professional Organizations
  • 1.4.3 Problem Domain Professional Societies
  • 1.4.4 Professional Service
• 1.5 Handbook Overview and Illustrative Examples
  • 1.5.1 TechnoMagic New Product Launch
  • 1.5.2 Geneptin Personalized Medicine for Breast Cancer
  • 1.5.3 Data Center Location and IT Portfolio
  • 1.5.4 Roughneck North American Strategy (RNAS)
• 1.6 Summary
• Key Terms
• References

1.1 Introduction

The consequences of our decisions directly affect our professional and personal lives. As Napoleon noted in our opening quote, decisions can be difficult, and making good decisions can be very valuable. Having the right data and information at the right time with the right process enables decision‐making. Our focus is on professional decisions, but the same principles apply to our personal decisions. ...